GameFi Cryptocurrency Surges 15% in Less Than a Day
On April 7, a popular GameFi cryptocurrency experienced a significant surge in value after an announcement of new developments.
Enjin (ENJ) went up from a low of $0.418 to $0.50, marking its highest point since February 25. As of writing, ENJ has seen a 15% increase in the last 24 hours, trading at $0.479.
This is noteworthy, given that many cryptocurrencies have either suffered losses or seen little growth within the last 24 hours. Enjin’s cryptocurrency has gone up by around 95% this year so far.
Trading volume for Enjin Coin also experienced a significant increase, rising by almost 700% at present.
Trading volume indicates interest in buying or selling an asset, and with this recent surge in volatility, traders may have jumped in to benefit from the gains. Enjin has announced some exciting developments via their official Twitter account, indicating they are close to unveiling a new Enjin platform.
📢 Attention all #developers and #gamers out there!
We're getting closer to some very exciting things coming up at Enjin, and we couldn't hold back on showing you a little sneak peek of the new Enjin Platform! 👀
It will now be easier than ever to manage your #NFTs 🙌 pic.twitter.com/oPr8oUVrvN
— Enjin (@enjin) April 4, 2023
The platform will allow users to easily create collections, tokens, and beams, and game developers can approve, freeze, mutate, and destroy assets via the new UI platform.
READ MORE: Dogecoin Price Crashes After Twitter Returns Bird Logo
The company is also eagerly anticipating the release of its upcoming marketplace, nft.io, which will include all of the basic functionalities found in any NFT-related marketplace and the potential to work with Efinity in the future.
We ❤️ https://t.co/kNQ0PP1vCa feature highlights!
We're looking forward to the next few weeks! 🤩 https://t.co/yJONX3o5Bv
— Enjin (@enjin) April 6, 2023
Last month the Enjin team revealed updates for the Enjin wallet application, a mobile app for Android and iOS users that enables them to store, send, and sell NFTs and cryptocurrencies.
Alexander Stefanov
Reporter at CoinsPress
Alex is Editor-in-Chief of Coinspress and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
